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Terra Luna Classic v3.1.3 Launch: Enhanced Staking Rewards and Burn Tax

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LUNC and USTC Prices React to Burn Tax Proposal The public has been divided on the burn tax proposal. The price of #LUNC✅ declined by 3% in the last 24 hours and was trading at $0.00008043. The lowest and highest prices for this period were $0. 0000807 and $0. 0000843, respectively. Also, trading volume has declined by 21% in the last one day. Also, #USTC fluctuated and reduced its price by 3.72%, and it traded at $0. 01894. $USTC was trading at $0. 01878 at its lowest and $0. 01985 at its highest within the 24-hour period, with trading volume decreasing by 6% in the same period. The community’s opinions on the possible advantages and disadvantages of raising the burn tax rate are still split. There are fears that large exchanges like Binance may halt the $LUNC burn mechanism if the tax rate is raised. This has created some controversy over the proposal, as the potential benefits of a higher burn tax are considered against the potential decline in exchange support. As the discussion goes on, the #TerraLunaClassic community is still paying attention to the changes made regarding Tax2Gas and the change in the burn tax proposal. #BTC_MarketPanic_Dip #Babylon_Mainnet_Launch

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Proposed Tax Hike Triples Burn Rate If the burn tax is increased to the level of 1.5%, then the burn tax allocation will increase from 0.4% to 1.2%. This adjustment would effectively triple the contribution rates to both the community pool and the #Oracle pool. The rise in the burning tax is expected to quicken the pace of burning $LUNC and $USTC tokens, as well as increase funding for the community pool and the oracle pool, which supports long-term staking rewards. According to Validator JesusisLord, this will result in a significant upswing in the rate of token burn, thus boosting the financial backing for community projects and the #staking rewards. However, this proposal will go to the governance voting only if the Tax2Gas mechanism can be successfully deployed on-chain. The core developer of Tax2Gas #GenuineLabs has estimated that the software will be up and running by August. #BTC_MarketPanic_Dip #HamsterKombat

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Terra Luna Classic Contemplates Increasing Burn Tax to 1.5%: Could It Revive Token Prices? Members of the #TerraLunaClassic (LUNC) community are currently debating a proposal to raise the burn tax rate from 0.5% to 1.5%. This proposal, presented by #TerraClassic validator JesusisLord, seeks to raise the on-chain tax rate. The proposed change involves keeping the burn tax rate as it is today until the total $LUNC supply reaches 10 billion #tokens , a threshold set during the initial burn tax mechanism integration. Under the current system, the 0. 5% burn tax is divided into two parts: 80% is directed towards the burn mechanism, and the remaining 20% is split between the community and oracle pools. Precisely, the 20% distribution is split between the community pool at 10% and the oracle pool at 10%. The previous v3. 1. 3 upgrade has made sure that the Oracle pool gets its due 10% of the burn tax. #BTC_MarketPanic_Dip #HamsterKombat

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What’s Next for Terra Luna Classic Following the burn tax upgrade, the #TerraLunaClassic community awaits another major implementation, Tax2Gas scheduled for the end of July. According to our earlier report, this implementation is expected to simplify #transactions for developers and users by integrating burn tax directly into gas fees. This integration eliminates the need for manual calculation of burn tax by dApp developers, enhancing user experience on the #TerraClassic network. The community is debating a proposal to raise the burn tax to 1.2%, aiming to boost $LUNC ’s price by encouraging token burns on transactions. #BTC_MarketPanic_Dip #HamsterKombat

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